Amigo Loans - www.amigoloans.co.uk

I took out a loan for £5,000 in 2013 and kept up with my repayments until 2015 when the full balance was repaid and the agreement concluded. In 2020 a company approached me and advised that I could be due compensation from Amigo and a complaint was filed for miss-lending. Amigo agreed that they were at fault, and compensated both myself and the guarantor.

It was clearly wrong of me to make a complaint, as this resulted in Amigo deciding that I now somehow owe them just over £600, which they have now marked on my credit file, although I've not received any formal demand for payment in two years.

I recently checked my credit file and noticed that Amigo has been sending updates to the credit reference agencies on a monthly basis for the past 2 years, but still I have heard nothing about this during that time. When I queried this with them, they advised that this was the amount I owe them following the outcome of my complaint in 2022 relating to my credit agreement of 2013. I advised them that this agreement now falls outside of the statute of Limitations act and as per the Consumer Credit Act, requested a copy of a valid credit agreement for this amount. The company simply sent me a copy of the original agreement and declined my request to remove the data from my credit file.

When I threatened them with the Financial Ombudsman, they advised that there is a 'super claim' with them currently and so the ombudsman would not intervene. So as far as I'm concerned, that means they think they can do whatever they want until the super claim is concluded and they go out of business (or not).

I really hope this company loses its credit license soon because the way they milk everyday people for ridiculous amounts of money is horrendous.

I was a guarantor. I paid off over £6000 pounds. I was lucky I was in a position to do so quickly. They charge outrageous intrest on thier loans. They prey on people who are desperate, people who will most likely struggle to pay off the loan plus the intrest. Please anyone who hasn't voted on the scheme who can vote NO. Let's get this company shut down, they deserve so much more. However we can at least make sure they'll never trap someone else in thier Web of lies and false promises.

They make you pay triple the amount you originally borrowed! Stay away from this company, they will tie you up for years! I took out a loan for 10k based on them telling me I can afford it and staff encouraged me to tweak my incomings to stand a chance of acceptance, since receiving the loan I have paid nearly 20k with still over a year and a half to go.

The payments I have made for a £10,000 loan is disproportionate and not justifiable by any means. Check this out – I have made the following payments to date:

£237.15 pm (£6k original loan) payments made from Nov 1 2016 to May 2017 = £1,660.05

£395.25 pm (inc £4k top-up = £10k total borrowed) payments made from July 2017 to Current = £17,785.75

£1,660.05 + £17,785.75 = Total Paid: £19,445.80

Absolute bonkers I know.

I’ll probably end up paying them near 25k, imagine that for a 10k loan. I have reported them to FCA and have asked Financial Ombudsman Service to look into my complaint, I will take them to court if that’s the last option I have. Take a loan out with them at your own peril!

For pre-existing customers please vote NO at the Scheme of Arrangement consultation and let’s collectively shut this company down, they want you to believe you will get a refund but for the good of humanity this company should not be operating. It is well documented they are already holding up payments for those that have won their cases with FOS and they will further delay payouts. It is better to take a hit on the finance than leave the company operating without impunity. I have suffered from health issues trying to pay this company back. They do not deserve to be open and serving the population of this great country.

was a guarantor and this is my experience with Amigo. They are hideously irresponsible lenders who care not a jot if they grind you into the dirt and leave you broken and penniless. The borrower was not a friend but my manager at work. I was on a zero hours contract and relied on her goodwill for enough shifts to keep food on the table. I was not in position to say no to her and suffer the consequences- Amigo was well aware of our respective positions and work and the power imbalance that this entailed but they still lent with me as guarantor, even though I was on a lower and more variable income than the borrower! When she defaulted I was immediately threatened with court during this already stressful covid time (I was furloughed and had just found out I was pregnant). I had to declare myself insolvent. The borrower defaulting has trashed my credit score. I was then sent a letter from Amigo stating that they were waiting on me to fail with my trust deed and then would carry on chasing me for money I dont have. I have had panic attacks and my anxiety has returned. I beg anyone considering becoming a borrow or a guarantor, please please please find another way, these loan sharks will eat you alive.

Complaints following the correct channels via their website are ignored and tweets are brushed off with a 'sorry to hear that.' If you deal with this company you will end up in such serious trouble that bankruptcy will become your only option.

Amigo Loans are a no go DO NOT USE ... Cornavirus pandemic as it stands, not interested in giving people breathing space or being flexible as any respectable lender should be !!

After 10x emails to their team they ask me to fill out a form on my account via their website which is NOT USER FRIENDLY.

Very wordy and asks you the same question pretty much 4 times ...

They then chirp up with various emails but never answer the phone I have been on hold today for 3hrs so far.

REASONABILE LENDER DEFINETLY NOT AVOID LIKE THE PLAGUE THEY ARE ONE OF THE WORST COMPANIES I HAVE EVER COME ACROSS.

When l agreed to be guarantor l believed they would pay, They where 15 days late with there payment, and explained the situation to them they didn't listen and would not work with them to resolve this issue. when payment was one day late and they kept in touch with them they started hounding me for payment. Since agreeing to be guarantor my situation has changed and l informed them of this and they totally ignored it and would not acknowledge my situation or the borrowers. they don't listen and l am at breaking point. Have been trying to call and sent e~ails just ignored. Can't even access the account. Wish l was better informed and that had they done the checks properly they would have seen it wasn't affordable also says l signed a contract which you have to do before getting funds l didn't sign anything that l can remember and l have all paperwork with no contract.

I was guarantor to a recent loan carried by a friend, she fell on hard times so Amigo constantly hounded me for payments. I decided in the end to pay up.I have since requested confirmation that the account is now closed and they have totally ignored me. My advise is IGNORE this outfit no matter how desperate things become.

Amigo loans has been fantastic. I needed a loan a few months ago to pay for an unexpected home repair bill. My credit rating needed repairing after I had faced financial difficulty last year so a standard bank loan wasn't an option. As I had a guarantor, Amigo accepted my loan application and offered a top up loan after 3 months of making payments on time. Their customer service is friendly and efficient and the loan application is very easy. I'd recommend this company to others.

I acted as a guarantor for my daughters boyfriend. I believed that he needed the money to buy a car and tools for work, so that they could start up their new life together. I believed him when he said he would pay the premiums monthly and he could afford it. In fact he paid practically no premiums and late payment charges and premiums defaulted to me. This caused me financial difficulties and I borrowed money from from my bank to pay it off. This gave this man a good credit rating, left me in debt of over £7000. I later learnt that he went on to do the same thing to someone else. There was no security in place to prevent this from happening. So my advice on this type of loan for a guarantor is, don't do it, ever.

My son wanted to top up his loan. This made a difference of £15.00 more per month to pay so I agreed to again be guarantor. What a farce!! They went to my credit file, yet again, all my finance was scrutinised down to last penny. It seemed even more intrusive than the initial loan.

I will never act as a guarantor for this firm or any other if this is how they treat people.